Moody's said it expects U.S. GDP growth to be in the 1.5% to 2.5% range in 2013-14, as unemployment slips downward toward 7%. The unemployment rate stood at 7.5% in April, and May’s labor report is due next week.

Moody’s forecast is for the next 12 to 18 months.

“Sustained GDP growth and improving employment conditions will help banks protect their now-stronger balance sheets," said Sean Jones, a Moody's Associate Managing Director, in a statement. “In addition, after another year of reducing credit-related costs and restoring capital, U.S. banks are now even better positioned to face any future economic downturn,” added Jones.

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According to Moody’s, historically low interest rates are “the single most important issue that will drive U.S. banks' performance in the next 12-18 months.”

Moody’s said low rates, set by the Federal Reserve at a range of 0%-0.25% in December 2008, has encouraged private-sector hiring to an extent that it “more than offsets” job losses in the public sector.

In addition, low interest rates also have supported recent improvements in the quality of U.S. banks' assets, as net charge-offs are approaching pre-crisis levels.